Velos IoT
Velos IoT provides global cellular IoT connectivity via its UltimateSIM eSIM/Multi-IMSI product and Nomad connectivity management platform, delivering resilient connectivity across 700+ networks in 200+ countries to enterprise OEMs and operators in transport, healthcare, energy, agriculture, and other verticals.
- Company typePrivate
- Founded2004
- HeadquartersCopenhagen, Denmark
- Headcount—
- GTM typeB2B
- OfferingSoftware
What Velos IoT does
Velos IoT is a privately-held global IoT connectivity provider founded in 2004 and headquartered in Jersey (Channel Islands), with operating subsidiaries in the United Kingdom, United States, Denmark, and Estonia. The company delivers cellular IoT connectivity through its flagship eSIM product (UltimateSIM) and a cloud-based Connectivity Management Platform (Nomad), serving enterprise customers across seven primary verticals: IoT Manufacturers, Transport & Logistics, Asset Tracking & Telematics, Retail & Warehousing, Energy & Environment, Healthcare, and Agriculture. Documented reference customers include Compass Asset Protection (vehicle tracking), NanoLink (equipment mapping), Meterix (smart metering), FieldWise (smart irrigation), M-Health Solutions (remote patient monitoring for 36,000+ cardiac patients in Ontario), Unifly (aviation), and Phoenix Managed Networks (point-of-sale connectivity).
The company's technical architecture combines Multi-IMSI technology (up to 10 pre-loaded IMSIs per SIM) and eUICC+ eSIM capability on a single chip, built on GSMA SGP.32 compliant standards, delivering over-the-air profile switching across 700+ MNO/MVNO networks in 200+ countries without hardware swaps. The Nomad platform provides zero-touch provisioning, dynamic OTA updates, Watchdog financial guardrails (threshold-based cost monitoring), IMEI locking security, unified billing, and an API-first architecture enabling integration into customer ERP, CRM, and BSS/OSS systems. The platform reached Challenger status in Counterpoint Research's 2026 CMP Rankings, upgrading from Upstarter the prior year, and the company achieved ISO 27001 certification in 2025.
Velos IoT operates a hybrid revenue model combining a single Monthly Recurring Charge (MRC) per SIM with usage-based pay-per-use data billing, with no forced bundles and consistent pricing from pilot to millions of devices. The go-to-market combines direct enterprise sales (a five-stage onboarding process: discovery, configuration design, commercial terms, proof of concept, global launch) with structured reseller programs including white-label, Integration Partner, and Velocity Partner tiers. The company manages over 25 million SIM profiles serving 700+ clients worldwide and operates with no disclosed external funding rounds, indicating self-funded or PE-backed internal financing. Leadership comprises CEO Colin Chew (25+ years wireless), CFO Ben Hudson (25+ years PE-backed software/tech), CIO Rune Bundesen (23+ years telecom/IoT since 2010), and COO Jim Ryan.
Velos IoT firmographics
Firmographics- Name
- Velos IoT
- Legal name
- Velos IoT Jersey Limited
- Website
- https://velosiot.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Short description
- Velos IoT provides global cellular IoT connectivity via its UltimateSIM eSIM/Multi-IMSI product and Nomad connectivity management platform, delivering resilient connectivity across 700+ networks in 200+ countries to enterprise OEMs and operators in transport, healthcare, energy, agriculture, and other verticals.
- Ownership category
- akta.pro rank
Velos IoT industry classification
Industry- Product category
- Cellular IoT Connectivity
- NAICS
- Telecommunications Resellers (517121)
- SIC
- Communications Services, Nec (4899)
- akta.pro primary industry
- IoT Connectivity Management (Private APN, SIM/eSIM, Device Connectivity) (HDAIAGAG)
- akta.pro secondary industries
- IoT/M2M Mobile Network Operators (LPWAN, NB-IoT/LTE-M) (HDAIAAAH), Industrial/OT Private Connectivity (Factory, Mining, Ports) (HDAIAGAD)
Keywords
Where Velos IoT is headquartered
LocationHeadquarters
- HQ city
- Copenhagen
- HQ country
- Denmark
- HQ region
- Europe
Offices5 records
Markets served
Velos IoT business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- IoT SIM / eSIM Connectivity Services: Core revenue from managing IoT SIM and eSIM profiles across 700+ global networks. Operates on a single MRC (Monthly Recurring Charge) per SIM, with usage-based data billed per roaming network (pay-per-use). No forced bundles, transparent pricing with 30 days notice of any pricing changes. Scales from pilot to millions of devices with consistent pricing structure.
- Connectivity Management Platform (Nomad): Nomad platform fees for connectivity management, provisioning, billing automation, and API access. Offered as a managed service with tiered configurations for direct customers and white-label/reseller partners.
- Proof of Concept Services: Standard onboarding includes proof of concept using production SIMs in the customer's own environment, validating coverage, failover behaviour, and platform performance before large-scale commitment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Monthly | Single MRC per SIM with per-roaming-network pay-per-use data billing |
| Hybrid | Monthly | Entry-Level Deployment - Cost-optimized configuration for wide-reach deployments |
| Hybrid | Monthly | Mission-Critical Deployment - Multi-access configuration for resilient, high-performance coverage |
| Hybrid | Monthly | Low-Power IoT Deployment - LPWAN-optimized for battery life and remote assets |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels9 records
Velos IoT product offering
Product offeringCore offering
Velos IoT sells global cellular IoT connectivity through its UltimateSIM eSIM product (combining eUICC and Multi-IMSI technology on a single chip hosting up to 10 pre-loaded IMSIs) and the cloud-based Nomad Connectivity Management Platform. Together these deliver single-SKU connectivity across 700+ MNO/MVNO networks in 200+ countries with GSMA SGP.32-compliant over-the-air profile switching, zero-touch provisioning, and API-driven fleet automation for enterprise IoT deployments.
Product overview
Velos IoT provides a dual-product portfolio: UltimateSIM (eSIM/IoT SIM solution with multi-IMSI technology providing resilient global connectivity across 700+ networks in 200+ countries) and the Nomad Connectivity Management Platform (cloud-based CMP for centralized fleet management, automated provisioning, and API-driven control). The products form an integrated ecosystem where UltimateSIM provides the physical connectivity and Nomad provides the management and orchestration layer.
Differentiator
Problem solved
Functional benefit
Brands
- ULTIMATeSIM: Flagship IoT connectivity solution providing eSIM technology with Multi-IMSI capability for global IoT deployments. Built on 20+ years of expertise, it provides mission-critical redundancy with access to 700+ networks across 200+ countries.
- Nomad
Products and services
- UltimateSIM Flagship eSIM product combining eUICC and Multi-IMSI technology on a single chip, providing multi-IMSI, multi-network global IoT connectivity with access to 700+ networks across 200+ countries. Hosts multiple network identities (up to 10 IMSIs pre-loaded) enabling devices to autonomously switch networks based on signal quality or cost over-the-air without hardware swaps. GSMA SGP.32 compliant with configurations for Entry-Level (cost-optimized), Mission-Critical (4+ MNOs per country), and Low-Power IoT (NB-IoT/LTE-M) deployments.
- Nomad Connectivity Management Platform Cloud-based single-pane-of-glass Connectivity Management Platform for managing entire IoT estates. Provides zero-touch provisioning, dynamic OTA profile switching, Watchdog financial guardrails (proactive data and cost thresholds with automated throttling), proactive security (IMEI locking), unified billing control, API-first fleet automation with ERP/CRM/BSS/OSS integration, and multi-tenant monetization with white-label branding.
- Global Coverage Service Cellular and LPWAN network access service spanning 2G, 3G, 4G, 5G, LTE-M, and NB-IoT technologies across 700+ networks in 200+ countries and territories, delivered through UltimateSIM and managed via the Nomad platform.
Quantifiable outcome
- Over 25 million SIM profiles managed across 700+ networks in 200+ countries serving 700+ clients worldwide
- +4 more outcomes
Companies that use Velos IoT
Customer profileNamed customers7 records
Segments7 records
Ideal customer profiles5 records
Velos IoT technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability4 records
Feature8 records
Velos IoT partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and strategic.
- Global Mobile Network Operators (MNOs)coreVelos IoT maintains deep, direct relationships with every major global MNO, providing access to 700+ networks through a single SIM. These relationships form the foundation of the company's global connectivity infrastructure.
- IoT HyperscalerscoreStrategic collaboration with leading IoT hyperscalers to streamline data flows, ensuring devices are integrated by design with the world's most powerful cloud environments. Part of Velos IoT's hyperscale alignment strategy.
- Phoenix Managed NetworkscorePhoenix Managed Networks, a premium provider of network and security solutions, integrates Velos IoT's managed mobile WAN solution for provisioning wireless services for mobile Point-of-Sale devices. Phoenix serves processors and acquiring banks worldwide with high-performance, secure services.
- STMicroelectronicsstrategicVelos IoT and STMicroelectronics collaborated on a blog about future-proof smart metering, providing insights on connectivity requirements and eSIM integration for smart metering applications using STMicroelectronics semiconductor platforms.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Velos IoT competitors and assessment
Company assessmentDirect peers
- 1NCE: 1NCE offers low-cost, multi-country cellular IoT connectivity (NB-IoT/LTE-M included) with a flat-rate pricing model and a connectivity management platform — directly comparable to Velos's LPWAN-enabled tiers and global single-SKU proposition.
- Soracom: Soracom provides cellular IoT connectivity (Soracom Air), a cloud-native connectivity management platform with API-first design, and a global partner ecosystem — closely comparable to Velos in IoT-focused SIM/eSIM aggregation plus a developer-oriented management plane.
- Cubic Telecom: Cubic Telecom provides global IoT/M2M connectivity through partnerships with leading MNOs, eSIM/OTA management, and a software-defined connectivity platform — overlapping with Velos in automotive, transport, and OEM-led IoT use cases across multiple geographies.
- KORE Wireless: KORE Wireless is a global IoT connectivity aggregator and MVNO offering multi-IMSI SIMs, eSIM management, and a connectivity management platform across cellular networks — directly comparable to Velos IoT in business model, customer segments (transportation, healthcare, asset tracking), and platform-led go-to-market.
- Aeris Communications: Aeris provides cellular IoT connectivity with multi-IMSI technology, an IoT management platform (Aeris Connectivity Platform), and dedicated IoT/M2M data plans — a direct competitor in the IoT/M2M connectivity and CMP space with comparable global coverage and enterprise vertical focus.
- Wireless Logic Group: Wireless Logic is a managed IoT connectivity provider offering multi-network SIMs, a connectivity management platform, and reseller programs across EMEA and globally — directly comparable to Velos in connectivity aggregation, platform offerings, and channel-led go-to-market.
- Eseye: Eseye offers global IoT connectivity with multi-IMSI eSIM technology (AnyNet), an IoT management platform, and direct MNO relationships spanning 190+ countries — overlapping closely with Velos IoT's UltimateSIM + Nomad stack and mission-critical vertical approach.
- EMnify: EMnify delivers cellular IoT connectivity as a cloud-native platform with multi-country SIMs and an API-first management layer for global IoT deployments — a direct peer in IoT/M2M connectivity aggregation and platform-led enterprise sales.
Broad incumbents
- Twilio (Super SIM / Programmable Wireless): Twilio Super SIM and Programmable Wireless deliver cellular IoT connectivity with API-first management as part of Twilio's broader communications platform — comparable to Velos in cellular IoT aggregation and developer-centric APIs, but offered within a much larger communications suite.
Emerging players
- Hologram: Hologram provides cellular IoT connectivity (multi-carrier SIMs and eSIM) with a developer-oriented connectivity management dashboard for connected device fleets — an emerging IoT connectivity aggregator with overlapping API-first management and global coverage ambitions.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Velos IoT social profiles
Digital presenceVelos IoT compliance and trust
Trust signalCompliance1 record
Velos IoT financial estimates
Financial estimateRevenue estimate
Valuation estimate
Velos IoT leadership team
Management profileNumber of profiles
Profiles4 records
Velos IoT subsidiaries and ownership
Company hierarchySubsidiaries4 records
Velos IoT funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Velos IoT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Velos IoT
What does Velos IoT do?
Velos IoT sells global cellular IoT connectivity through its UltimateSIM eSIM product (combining eUICC and Multi-IMSI technology on a single chip hosting up to 10 pre-loaded IMSIs) and the cloud-based Nomad Connectivity Management Platform. Together these deliver single-SKU connectivity across 700+ MNO/MVNO networks in 200+ countries with GSMA SGP.32-compliant over-the-air profile switching, zero-touch provisioning, and API-driven fleet automation for enterprise IoT deployments.
Is Velos IoT a public or private company?
Velos IoT is a private company. It is classified as unknown and is currently operating.
When was Velos IoT founded?
Velos IoT was founded in 2004.
Where is Velos IoT based?
Velos IoT is headquartered in Copenhagen, Denmark, in the Europe region.
How does Velos IoT make money?
Three revenue lines are on record. IoT SIM / eSIM Connectivity Services are the primary driver. The others are connectivity Management Platform (Nomad) and proof of Concept Services.
Who are Velos IoT's main competitors?
Direct peers on record are 1NCE, Soracom, Cubic Telecom, KORE Wireless, Aeris Communications, Wireless Logic Group, Eseye and EMnify. Twilio (Super SIM / Programmable Wireless) is listed as a broad incumbent. Hologram is listed as an emerging player.
Does Velos IoT have an API?
Yes. Nomad platform offers API-first integration enabling developers to integrate high-performance APIs directly into ERP, CRM, or BSS/OSS systems. The API allows automation of asset monitoring, lifecycle management, connectivity management, billing, and diagnostics. Every function available in the Nomad dashboard can be mirrored in proprietary systems via API calls.
What industry is Velos IoT in?
Velos IoT's product category is Cellular IoT Connectivity. Its primary akta.pro industry code is HDAIAGAG, IoT Connectivity Management (Private APN, SIM/eSIM, Device Connectivity), with a secondary code of HDAIAAAH, IoT/M2M Mobile Network Operators (LPWAN, NB-IoT/LTE-M). Its NAICS code is 517121 and its SIC code is 4899.